AGP Executive Report
Last update: 15 minutes agoRates and Mortgages: The RBA’s fifth hike of the year lifted the cash rate to 4.85%, its highest since 2008. The split decision and Governor Michele Bullock’s signal of a possible pause offered little relief as Australian banks raised lending rates and mortgage holders faced higher repayments. Housing Outlook: CBA forecast national home prices could fall 8% this year and a further 3% in 2027, with higher rates adding to the pressure. Market Slump: The ASX 200 fell 0.77% to 8,818.8, with banks and miners weighing on the market amid US election jitters. NextDC Deal: Goodman Group and Digital Realty offered to buy up to 9.9% of NextDC for about A$715 million at A$9.50 a share—a 45.5% premium to its Wednesday close—while saying they do not currently intend to seek control.
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